I don’t want this potential investment to turn into a money pit, so hopefully it’ll work out.

So I think work out your numbers and see what the best option is for you. 

@Justin Pan  How did it work out?

Trying to stay open to whatever strategy can work out here!

That way even if the tenant you have in there doesn't work out you can usually always replace them.

Hii am real estate broker..use to to work in management company..over 1 year without job..a job i find on line  looking a person who knows yardi.... i am mostly work out of office..now need help to learn  yardi..thank you

I am just trying to find out if the it makes financial sense for me to buy down there and possibly use as an investment if living there doesn’t work out.

@Mark WilliamsThe valuation of commercial asset (which your 24 unit building is) is driven by the NOI of the asset, the building class, the cap rate for that asset class in the area where the building is located and thit is very different from the purchase and sale of residential properties for which the value is determined by the price other people paid for similar properties.it is important to look at the P&L statement for the building you are looking to purchase and verify that it accounts for the expenses and income to work out the true NOI.The NOI divided by the cap rate and divided by the number of units would give you the price you should expect to pay.That price per unit will vary depending on the class of asset it is.Class A commands the highest price per unit and the lowest cap rateClass D commands the lowest price per unit and the highest cap rateNot the precise answer you were expecting but hope it helps.

If "Investing" does not work out or is slow to start, you have a back up career at the ready which of itself can be quite lucrative.The only downside I have seen to licensing is that not everyone is able to find a Broker off the bat that is supportive of their Investing goals.

It could work out fine, just not that if it starts to go south not only do you need to evict your tenant you also need to replace your handyman.